Disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".

Summary

This joint resolution disapproves and nullifies a Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice. (The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 19 April 2016

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 19 April 2016

   Introduced

   Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 19 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 April 2016

   Introduced

   Introduced in House

   Source: IntroReferral

5. 21 April 2016

   Vote

   Ordered to be Reported by the Yeas and Nays: 22 - 14.

   Source: Committee

6. 21 April 2016

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 26 April 2016

   Committee

   Committee on Ways and Means discharged.

   Source: Committee

8. 26 April 2016

   Discharge

   Committee on Ways and Means discharged.

   Source: Discharge

9. 26 April 2016

   Calendars

   Placed on the Union Calendar, Calendar No. 407.

   Source: Calendars

10. 26 April 2016

    Reported

    Reported by the Committee on Education and the Workforce. H. Rept. 114-527, Part I.

    Source: Committee

11. 26 April 2016

    Reported

    Reported by the Committee on Education and the Workforce. H. Rept. 114-527, Part I.

    Source: Committee

12. 27 April 2016

    Reported

    Rules Committee Resolution H. Res. 706 Reported to House. Resolution provides for consideration of H.R. 4901 and H.J. Res. 88.

    Source: Floor

13. 28 April 2016

    Passed

    Rule H. Res. 706 passed House.

    Source: Floor

14. 28 April 2016

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

15. 28 April 2016

    Vote

    On passage Passed by the Yeas and Nays: 234 - 183 (Roll no. 176). (text: CR H2081)

    Source: Floor

16. 28 April 2016

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 234 - 183 (Roll no. 176).(text: CR H2081)

    Source: Floor

17. 28 April 2016

    Floor

    Resolution provides for consideration of H.R. 4901 and H.J. Res. 88.

    Source: Floor

18. 28 April 2016

    Floor

    The previous question was ordered pursuant to the rule. (consideration: CR H2092)

    Source: Floor

19. 28 April 2016

    Floor

    Considered under the provisions of rule H. Res. 706. (consideration: CR H2081-2093)

    Source: Floor

20. 9 May 2016

    Introduced

    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 460.

    Source: Calendars

21. 24 May 2016

    Vote

    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 56 - 41. Record Vote Number: 84.

    Source: Floor

22. 24 May 2016

    Floor

    Motion to proceed to consideration of measure made in Senate. (consideration: CR S3065; text: CR S3065)

    Source: Floor

23. 7 June 2016

    President

    Presented to President.

    Source: President

24. 7 June 2016

    Floor

    Presented to President.

    Source: Floor

25. 8 June 2016

    President

    Vetoed by President.

    Source: President

26. 8 June 2016

    President

    Vetoed by President.

    Source: President

27. 8 June 2016

    Passed

    POSTPONED PROCEEDINGS ON VETO MESSAGE - Mr. Sessions asked unanimous consent that when a veto message on House Joint Resolution 88 is laid before the House on the legislative day of June 8, 2016, after the message is read and the objections of the President are spread at large upon the Journal, further consideration of the veto message and the joint resolution shall be postponed until the legislative day of Wednesday, June 22, 2016; and that on that legislative day, the House shall proceed to the constitutional question of reconsideration and dispose of such question without intervening motion. Agreed to without objection.

    Source: Floor

28. 8 June 2016

    Veto

    The Chair laid before the House the veto message from the President. (consideration: CR H3537-3538)

    Source: Veto

29. 22 June 2016

    Vote

    On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 239 - 180 (Roll no. 338).

    Source: Veto

30. 22 June 2016

    Vote

    Failed of passage in House over veto: On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 239 - 180 (Roll no. 338).

    Source: Veto

31. 22 June 2016

    Vote

    The previous question on the motion to refer the bill and Agreed to by recorded vote: 229 - 175, 2 Present (Roll no. 337). (consideration: CR H4125)

    Source: Floor

32. 22 June 2016

    Veto

    Motion to refer the bill and accompanying veto message to the Committee on Education and the Workforce. The Chair directed the Clerk to notify the Senate of the action of the House.

    Source: Veto

33. 22 June 2016

    Floor

    Pursuant to the order of the House of June 8, 2016, the unfinished business is the further consideration of the veto message of the President on House Joint Resolution 88. (consideration: CR H4125-4126)

    Source: Floor

34. 22 June 2016

    President

    The Chair announced the unfinished business to be the consideration of the veto.

    Source: President

Votes

Versions

• Enrolled Bill · — · Download file
• Placed on Calendar Senate · 9 May 2016 · Download file
• Engrossed in House · 28 April 2016 · Download file
• Reported in House · 26 April 2016 · Download file
• Introduced in House · 19 April 2016 · Download file

Documents

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• Engrossed in House (text)

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• Passed House without amendment

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  summary · EN · 19 April 2016

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Sponsors

• Rep. Roe, David P. [R-TN-1] · R · Sponsor
• Rep. Boustany, Charles W., Jr. [R-LA-3] · R · Sponsor
• Rep. Wagner, Ann [R-MO-2] · R · Sponsor
• Rep. Jolly, David W. [R-FL-13] · R · Cosponsor
• Rep. Collins, Chris [R-NY-27] · R · Cosponsor
• Rep. Guinta, Frank C. [R-NH-1] · R · Cosponsor
• Rep. Sessions, Pete [R-TX-17] · R · Cosponsor
• Rep. Walters, Mimi [R-CA-45] · R · Cosponsor
• Sen. Mullin, Markwayne [R-OK] · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor
• Rep. Hill, J. French [R-AR-2] · R · Cosponsor
• Rep. Jenkins, Lynn [R-KS-2] · R · Cosponsor
• Rep. Byrne, Bradley [R-AL-1] · R · Cosponsor
• Rep. Foxx, Virginia [R-NC-5] · R · Cosponsor
• Rep. Rokita, Todd [R-IN-4] · R · Cosponsor
• Rep. Messer, Luke [R-IN-6] · R · Cosponsor
• Rep. Kline, John [R-MN-2] · R · Cosponsor
• Rep. Black, Diane [R-TN-6] · R · Cosponsor
• Rep. Knight, Stephen [R-CA-25] · R · Cosponsor
• Sen. Cramer, Kevin [R-ND] · R · Cosponsor
• Rep. Latta, Robert E. [R-OH-5] · R · Cosponsor
• Rep. Smith, Lamar [R-TX-21] · R · Cosponsor
• Rep. Loudermilk, Barry [R-GA-11] · R · Cosponsor
• Rep. Brat, Dave [R-VA-7] · R · Cosponsor
• Rep. Grothman, Glenn [R-WI-6] · R · Cosponsor
• Rep. Guthrie, Brett [R-KY-2] · R · Cosponsor
• Rep. Carter, Earl L. "Buddy" [R-GA-1] · R · Cosponsor
• Rep. Allen, Rick W. [R-GA-12] · R · Cosponsor
• Rep. MacArthur, Thomas [R-NJ-3] · R · Cosponsor
• Rep. Heck, Joseph J. [R-NV-3] · R · Cosponsor
• Rep. Thompson, Glenn [R-PA-15] · R · Cosponsor
• · hswm00 · Standing
• · hsed00 · Standing

Related records

• related to → A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
• related to ← Providing for consideration of the bill (H.R. 4901) to reauthorize the Scholarships for Opportunity and Results Act, and for other purposes; providing for consideration of the joint resolution (H.J. Res. 88) disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary"; and providing for proceedings during the period from May 2, 2016, through May 9, 2016.
• related to ← Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to defining and delimiting the exemptions for executive, administrative, professional, outside sales, and computer employees.